Your Law Firm - Lee Rosen Of Rosen Institute

I wanted to do things differently. I was confident that the vision I created of a different kind of law firm would make me, my clients, and my team happier. Once I saw a better law firm in my mind, I felt a strong sense of purpose and certainty. My newly created vision energized me. I was fired up and ready to go. Then, life took over. Client deadlines came and went. Family emergencies popped up. Financial pressures distracted me from thinking long-term. The vision faded in the chaos of my life. I wasn’t making the progress I imagined.

We hear stories about big firm associates billing crazy numbers of hours. When I got out of law school back in 1987, the story was that big-firm lawyers billed a minimum of 1,800 hours per year. Don’t automatically trust the numbers you hear. Be skeptical. It’s not uncommon for a lawyer to hear someone else’s numbers and react with a “that’s impossible”. It very well may be impossible to replicate what you’re hearing in your particular practice area. It’s key to apply critical thinking skills when hearing the numbers of others. Even if the story you’re hearing is accurate it may have no relationship to what’s realistic in your practice setting.

When determining associate compensation, we need to know what’s fair while also understanding what amount will allow the firm to remain profitable. We can’t afford to experiment. We often end up paying whatever it takes to keep people from leaving. We come up with complicated and sophisticated approaches to associate pay, but if we start losing people, we fix the system to stop the attrition. When the team is making money for the law firm, we want to keep the team.

Rejecting candidates, even where they're unqualified, is hard. It's tough to respond to the resume submission with a rejection message because it's often clear that the applicant put a great deal of effort into the effort. I hate being the source of bad news. Most of us don't want to be the bad guy in this scenario.

It’s probably not the coffee that’s breaking the bank. Many of us focus on the $3 coffee or the few bucks we’re wasting on the wrong mobile phone plan, the weekly car wash, or the periodic massages. Nope, it’s not the little stuff. For many of us, the problem isn’t happening at home. It’s happening at the office. We’re hemorrhaging cash inside the law firm before the money ever makes it to the house.

Sending an email should be very straightforward. It’s dramatically simpler than sending a letter, on paper, as we did in the old days. An email, today, is the equivalent of yesterday’s printed, stamped, mailed letter. It’s faster, cheaper, and more reliable. We live in amazing times. Life is good. This doesn’t need to be complicated.